US February CPI 6.0% y/y vs 6.0% expected

• Prior was +5.5%
• m/m CPI +0.4% vs +0.4% expected
• Prior m/m reading was +0.5%
• Real weekly earnings -0.4% vs +0.7% prior (revised to +0.3%)

Core inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term:

• Ex food and energy +5.5% vs +5.5% y/y expected
• Prior ex food and energy +5.6%
• Core m/m +0.5% vs +0.4% exp
• Prior core m/m +0.4%
• Core services ex shelter +0.43% vs +0.265% prior

There are some people who want to disregard this report because of the bank run and the likelihood the Fed The Fed "The Fed" is a short-hand that refers to the Federal Reserve or Federal Reserve System, the central banking system of the United States. Traders often discuss the actions of the Fed, primarily interest rate decisions, as they significantly impact all financial markets.The Fed shouldn't be confused or substituted with the term "the Feds" and doing so tells everyone you're a total noob. The term "the Feds" refers to US Federal law enforcement, including such agencies as the FBI (Federal Bureau of "The Fed" is a short-hand that refers to the Federal Reserve or Federal Reserve System, the central banking system of the United States. Traders often discuss the actions of the Fed, primarily interest rate decisions, as they significantly impact all financial markets.The Fed shouldn't be confused or substituted with the term "the Feds" and doing so tells everyone you're a total noob. The term "the Feds" refers to US Federal law enforcement, including such agencies as the FBI (Federal Bureau of Read this Term will slow down with rate hikes (or stop them altogether) until the dust settles. That's right in the shortest term but this report is still a big deal for Fed policy in May and beyond.

Overall, the data is close to expectations. The m/m core is a touch hot but the y/y number was in line so I think it will be forgiven, especially with the weekly earnings number surprising lower.

More details (m/m)

• Used cars -2.8% vs -1.9% prior
• New cars +0.2% vs +0.2%
• Shelter +0.8% vs +0.7% prior
• Transportation services +1.1% vs +0.9% prior
• Energy -0.6% vs +2.0% prior
• Food +0.4% vs +0.5% prior

I'm not sure where that energy inflation is coming from. Oil prices have been stable or falling, so I assume it's lagged pass-through from natural gas prices.

Here's a chart of core CPI from Zerohedge excluding shelter, which is a metric the Fed is targeting. It's starting to come down but the monthly rise of +0.43% is the highest since September.